House Advances “One, Big, Beautiful” Budget Bill Aiming for Senate Approval

The House Budget Committee voted late last night to advance the “One, Big, Beautiful” bill to the House Rules Committee, which is scheduled for Wednesday, May 21^st. If the bill and any amendments are approved by the Rules Committee, the House could vote on the bill by later this week.

As part of this sweeping legislation, the bill would allow immediate expensing of domestic research and experimental costs for Tax Years 2025 through 2029 and restore taxpayer-favorable Bonus Depreciation provisions.

Many steps remain, but a path to the Senate appears to be inching closer and within reach.